Surge Battery closes $500,000 private placement

Executive Summary

• Surge Battery Metals Inc. closed a non‑brokered private placement of 1,851,852 units at C$0.27 per unit, raising gross proceeds of $500,000.
• Each unit consists of one common share and one warrant to purchase an additional share at C$0.37, exercisable until October 15, 2028; securities are subject to a four‑month‑and‑a‑day hold period expiring February 16, 2026.
• The sole investor, The Quaternary Group Ltd., now holds ~11.3% of the company on a diluted basis (5.7% undiluted), becoming a strategic shareholder; proceeds will be used for general working capital.

Key Details

• Units sold: 1,851,852 units @ C$0.27 per unit → Gross proceeds: $500,000.
• Unit composition: 1 common share + 1 share purchase warrant.
• Warrant terms: Exercise price C$0.37 per share; exercisable until Oct 15, 2028.
• Hold period: Four months and one day, expiring Feb 16, 2026, in accordance with Canadian securities laws.
• Use of proceeds: General working capital for the company.
• Investor: The Quaternary Group Ltd. – now holds ~11.3% diluted / 5.7% undiluted of outstanding shares, classified as a strategic investor.
• Chairman comment (Graham Harris): Emphasized confidence from The Quaternary Group and its support for advancing the Nevada North lithium project.
• Investor comment (Ross Jennings, The Quaternary Group): Highlighted the high‑grade lithium clay deposit, recent alignment agreements, and strategic importance of lithium to AI‑driven energy demand.

Notable Quotes

“We are very pleased to welcome the continued investment from The Quaternary Group… Their ongoing confidence underscores the strength of our strategy…” – Graham Harris, Chairman, Surge Battery Metals Inc.

“Surge Battery Metals is now ideally positioned to prosper in the coming years… the U.S. government and the stock market will come to realize the critical role lithium must play…” – Ross Jennings, The Quaternary Group Ltd.